Liberty Specialty Markets appoints Axa XL’s Harth to lead the Germany office
Liberty Specialty Markets has hired Michael Harth as country manager for Germany, starting in January 2022.
Convex chooses Luxembourg for new European insurance entity
Convex has created a Luxembourg-based European insurance entity to serve clients within the European Economic Area.
European cat in focus as reinsurers expected to push for meaningful 1.1 increases
Escalating insured losses of €10bn+ from the European floods will meaningfully impact some reinsurers and retro writers and drive 1 January cat renewal discussions on the continent as underwriters push hard for higher rates and buyers argue that moderation is warranted due to historically low loss ratios.
Insurers call for post-Brexit Solvency II overhaul to aid green transition
Insurance executives told an influential group of MPs on Monday that the UK should make urgent reforms to the EU’s Solvency II capital rules in order to free up cash for green investments.
Helvetia posts H1 non-life CR of 94.5% despite CHF70mn June storms bill
Expansive Swiss carrier Helvetia has reported a net combined ratio in its non-life business unit of 94.5 percent for the first half of 2021, a 1.4 percentage point improvement on the prior-year period.
Markel targets growth in French market with Paris office launch
Markel has opened a new branch office in Paris to support SMEs in the French market.
SiriusPoint pegs European flood losses at $70mn to $100mn
SiriusPoint has more than doubled its expected losses from July’s European flooding amid rising expectations of a €10bn ($11.8bn) industry loss from the event.
BHSI bolsters French unit with Swiss Re’s Luciani
Berkshire Hathaway Specialty Insurance (BHSI) has named Camille Luciani head of customer and broker engagement in France.
Market fears €10bn loss from European floods
Market concerns over the quantum of losses from July’s European floods are continuing to grow, with fears the event may now cost in excess of €10bn ($11.8bn), according to Ascot CEO Andrew Brooks.
Allianz fund losses under investigation by German regulator: reports
German regulators have launched an investigation into insurer Allianz in relation to the management of Allianz’s Structured Alpha funds during the market downturn last year, according to reports.
German floods and hail insured losses set to hit €11.5bn, says GDV
German carriers are on course for their most expensive year for natural catastrophes for more than 50 years, the country’s insurance association has warned.
Scor names Launay deputy CEO of Global P&C in broader management shuffle
Scor has appointed Romain Launay deputy CEO of its Global P&C business and CEO of its specialty platform in what is just one of a series of moves the French reinsurer’s newly installed CEO Laurent Rousseau has made as part of a management reshuffle.
European carriers outpace US and Japanese rivals on fossil fuel restrictions
European (re)insurers continue to outpace their counterparts in the US and Japan in making commitments towards restricting underwriting for fossil fuels.
European (re)insurance shares dip after Ida landfall
European stocks dipped in morning trading on Tuesday as investors continued to react to the landfall of Hurricane Ida in Louisiana over the weekend.
Miller hires Hepner to credit and political risk team as launches Geneva office
Miller has appointed Laurent Hepner to its credit and political risk insurance team, based in the company’s new Geneva office.
German insurers now expect €7bn loss from July flooding
German carriers now expect to incur losses of around €7bn ($8.3bn) from the flooding which impacted the country during July.
BHSI names QBE’s Gállegos as country manager for Spain
Berkshire Hathaway Specialty Insurance has added QBE’s Constanza Gállegos to its leadership team in Europe as country manager for Spain.
Clyde & Co: Global insurance M&A dips in first half of 2021
Insurance industry M&A dropped in the first half of 2021, according to Clyde & Co, with the number of completed deals down 3 percent in the first half of the year.
Coverys European Holdings continues to expand with Brady Insurance acquisition
Coverys European Holdings has completed the 51 percent acquisition of Joseph G Brady (Brady Insurance), an insurance underwriting agency, broker and Lloyd’s coverholder based in Ireland.
Howden continues European build-out with Everling hire in Netherlands
Howden has hired Willis Towers Watson’s Jeroen Everling as CEO of its Netherlands corporate business, as it continues to expand its European operations.